Lenders have recovered about half the defaulting advances of Rs 1.43 lakh crore stuck in 82 cases that have been resolved so far in the
Category: IBC-SEBI
Insolvency and Bankruptcy Code: Govt says trustees too can approach IBC against corporate debtors – The Financial Express
The government has allowed trustees, estate administrators, persons authorised by a company’s board of directors etc toinitiate corporate insolvency resolution process (CIRP) against a corporate
NCLT notice to Essar Power on L&T arm’s plea at Ahmedabad bench – The Financial Express
The Ahmedabad bench of National Company Law Tribunal (NCLT) on Tuesday issued a notice to Essar Power after L&T Infrastructure Finance Company approached it to
Govt likely to tweak IBC for cross-border cases, Bill after elections | Business Standard News
The government is planning to promulgate an Ordinance amending the Insolvency and Bankruptcy Code (IBC) and adding a chapter on cross-border insolvency. This would give
Essar Steel’s operational creditors appeal to ArcelorMittal for payment | Business Standard News
A forum of operational creditors with over Rs 1 crore in admitted dues from Essar Steel has appealed to ArcelorMittal which is in the process of acquiring the debt-ridden
The IL&FS mess | Business Standard Editorials
The new board of Infrastructure Leasing and Financial Services Ltd (IL&FS) has reportedly sent show-cause notices to as many as 14 former directors of IL&FS Financial Services Ltd (IFIN),
IL&FS board charges former directors of money laundering, criminal intent | Business Standard News
Tasked with cleaning up of mammoth financial mess at embattled IL&FS, its government-appointed board has charged 14 former directors of group firm IL&FS Financial Services Ltd (IFIN)
How bankruptcy code can help fix India’s agrarian crisis – The Economic Times
By Aishwarya Satija Historically, farm loan waivers have been used as a quick-fix solution to agrarian distress in India. Commonly used by political parties before
IL&FS: L&T Fin to move SC against NCLAT’s order on IL&FS debt – The Economic Times
L&T Finance has exposure to six road SPVs and all of them are operational. Out of these six, four are annuity projects, where money comes
Bankruptcy law: Unable to pay up? Top bidder to face penalty under new rule of insolvency regulation–Economic Times
A new amendment to corporate insolvency regulation prescribing stringent punishment for successful resolution applicants who fail to make promised payments is likely to protect the new bankruptcy law from
RBI must challenge NCLAT attempt to cut its powers – The Financial Express
Around 45% of power sector debt —of over `2 lakh crore—has an interest cover of less than one; these are assets that don’t have gas
IBBI suggests ground rules for Resolution Professsionals, Committee of Creditors – The Hindu BusinessLine
The Insolvency and Bankruptcy Board of India (IBBI) has come up with a charter of responsibilities for Insolvency Resolution Professionals (IRPs) and Committee of Creditors
Poor prescription |(IL&FS)– Business Standard Editorials
The National Company Law Appellate Tribunal (NCLAT) has ruled that the debt of Infrastructure Leasing & Financial Services (IL&FS) and its group entities should not be declared non-performing assets
How to clean up the rating mess in India | Business Standard Column
A king loved walking on the streets but didn’t want his feet to get dirty. So, a hefty award was announced for the person who
IL&FS ignored risk assessment reports while extending loans: audit – The Hindu
A forensic audit report of IL&FS has found serious lapses in the manner in which huge loans were extended to certain entities even after internal
Central Bank puts Rs 3,300 cr NPA on auction – The Economic Times
Except Bombay Rayon, Alok Industries, Bhushan Steel & Power and Essar Steel are currently under NCLT process. Taking a cue from the SBINSE 1.45 %, the Central
Open offer exemption: No open offer exemption without IBC: Sebi – The Economic Times
The regulator’s move to deny such open offer exemptions will affect companies looking to restructure their debt. Companies and investors looking to buy firms, whose debt restructuring
Bankruptcy: Over Rs 2 lakh crore bad loans settled, says government official – The Economic Times
The recovery rate then was around 25 to 26 per cent. In the last two years, this has changed. Over Rs 2 lakh crore worth
Imperfect ruling on constitutionality of IBC | Business Standard Column
On January 25, 2019, the Supreme Court upheld the constitutionality of the Insolvency and Bankruptcy Code, 2016 (Code henceforth), in its entirety. The scheme of the Code,
IBC brings down NPAs, says top Govt official – The Hindu BusinessLine
There has been a reduction in the addition of fresh NPAs over the last two years due to the implementation of the Insolvency and Bankruptcy
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